The major bank will develop an integrated remediation plan on all activities related to risk governance and report to APRA each quarter as part of its court enforceable undertaking.
The total value of new loan commitments for housing and the number of loans for the construction of new dwellings have reached record levels, according to the ABS.
The recovery in Australian house prices continued in November, with CoreLogic stating that house values look set to surpass their pre-COVID ...
The RBA governor has indicated that he does not expect to see a substantial increase in house prices due to soft population growth amid the COVID-19 crisis.
The central bank governor has voiced his support for the proposal to scrap responsible lending laws “in the spirit of reducing unnecessary regulatory burden”.
Customer-owned banks may need to look at merger options in their recovery plans should they seek to avoid failure in the event of a severe f...
Building approvals for private houses were at the highest recorded level since February 2000, and rose for the fourth consecutive month in October, according to new data.
The Australian economy saw strong growth in the September quarter, officially bringing the country out of recession.
Civil penalty proceedings have been brought against the major bank for overcharging interest on business overdraft accounts.
The prudential regulator has taken action against Westpac over breaches of liquidity standards, adding that they show weaknesses in the bank’s risk management.
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